Comment Text:
Dear Chairman and Commissioners,
My name is Dylan Browne, and I'm just a regular guy from New Jersey writing to share my thoughts on the Advance Notice of Proposed Rulemaking on Prediction Markets, as published in 91 FR 12516. Im not a lawyer or a big-time trader, but I actively trade on platforms like Kalshi, and I believe prediction markets are a valuable tool for people like me. I want to urge the CFTC to support well-regulated prediction markets without banning or over-restricting them.
I got into trading on prediction markets because I wanted a way to protect myself financially. Life is unpredictable, and events like elections or economic shifts can hit my wallet hard. For example, Ive used Kalshi to hedge against outcomes that could affect my taxes or costs as a regular citizen trying to make ends meet. Its not about gambling, its about having some control over risks I face every day. I believe these markets serve a real economic purpose, and classifying event contracts as gaming feels wrong to me. Its research and judgment, just like any other investment.
What I appreciate most is that platforms like Kalshi are regulated. I feel safer knowing theres oversight, unlike the shady offshore sites out there. If the CFTC bans or over-restricts these markets, people like me will get pushed to those unregulated platforms, which is way riskier for everyone. The US should be leading the way in financial innovation, not handing the advantage to other countries by driving this activity overseas. I also know the CFTC already has strong tools to stop manipulation and insider trading. Use those instead of punishing the rest of us with broad bans.
I was looking at some of the questions in the ANPR, like Question 8 about balancing innovation and consumer protection, and Question 15 on defining gaming versus legitimate markets. My take is simple: proportionate regulation is the answer. Target the specific risks, dont just wipe out entire categories of contracts. Let regular folks like me keep participating in legal, regulated markets. Were not the problem, and we deserve access to these tools just as much as the big players do.
Im asking you to support prediction markets with fair, targeted rules. Dont shut them down or make it impossible for platforms like Kalshi to operate. I want my money protected, and I want to keep using these markets to manage my risks. Thank you for taking the time to read my comment.
Sincerely,
Dylan Browne
